Cracker Barrel Boosts Outlook as Q2 Earnings Beat Estimates (CBRL)


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Restaurant/retail concept operator Cracker Barrel Old Country Store, Inc. ( CBRL ) on Tuesday posted better-than-expected fiscal second quarter earnings and raised its full-year earnings guidance.

The Lebanon, TN-based company reported fiscal second quarter net income of $25.6 million, or $1.10 per share, compared with $28.8 million, or $1.20 per share, in the year-ago period. Excluding one-time items, adjusted profit was $1.20 per share.

Revenue rose 5% from last year to $673.2 million.

On average, Wall Street analysts expected a smaller profit of $1.14 per share on lower revenue of $659.2 million.

Looking ahead, CBRL raised its full-year 2012 earnings forecast to a range of $4.20 to $4.35 per share, up from a prior estimate of $4.10 to $4.25. Analysts are looking for $4.29 per share for the year.

Cracker Barrel shares were unchanged in premarket trading Tuesday.

The Bottom Line
Shares of Cracker Barrel ( CBRL ) have a 1.80% dividend yield, based on Friday's closing stock price of $55.63. The stock has technical support in the $50-$52 price area. The shares are trading right at all-time highs.

Cracker Barrel Old Country Store, Inc. ( CBRL ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: CBRL

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